CoSine Comm. falls after rejecting Wyndrests latest bid

Shares of CoSine Communications
cosn
are sliding 35 cents, or 5.4 percent, to $6.15 in pre-open trading after the networker said its board of directors rejected Wyndcrest Holding's latest acquisition offer. The company's board views Wyndcrest's proposal to liquidate the company as not being in the best interest of shareholders, given that there are no assurances for the financial outcome of CoSine stockholders. CoSine had surged 27 percent on Monday after Wyndrest boosted its bid to $9.50 a share.

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